Jedisco's Posts
Nairaland Forum › Jedisco's Profile › Jedisco's Posts
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ednut1:Hehe... Reason why I laugh when I hear men who have never left Nigeria abuse Nigerian women to form 'alpha'. I had to make a thread ( https://www.nairaland.com/6146771/nigerian-men-abroad-coming-home ) on it and like I said there, regarding stuvs, the best place to be a Nigerian man is in Nigeria. Bottom line is human beings have similar traits world over. For evolutionary reasons female species are drawn to mates who have coverted characteristics in their community. Thats how species get 'better' with time. As a Nigerian man immigrating into the west, what are your qualities that are coveted by your new community? |
Gloriouscrown:Off plan is a bit different as it should be discounted. You could still negotiate the price + additions but also importantly should know your safeguards. E.g how big is the developer and whats their trackrecord, who's the site manager and what's his/her track record. There are also risk of delays, bankruptcy e.t.c. Your solicitor should be able to giude you on the worst case scenario and what you stand to lose should that occur. I know a colleague who bought off plan in 19/20. His was one of the first to be built on the site and the devs were keen to get things going. It also helps them with marketing if other customers turn up at a new site and they inform them x number of properties have already been sold. He went for a choice plot among the options available, they gave a little discount. By the time it was build complete, similar houses were already 20k above what he paid. Covid then happened and the aftermath house boom added another 50k to his property. |
Lexusgs430:Hehe... markets seems strong across board. Stocks, commodities (gold) even crypto. Many are already pricing in an interest rate cut later this yr. Even real estate has began to pick up. Next yr seems up only mode. Hopefully no surprises/black swans |
Nemie:There are a number of considerations. 1. Most builders would close their quaterly or annual financial books at certain times in the year. The period before this is when they look to get certain deals over the line to boost numbers they give to their shareholders. They are most ammenable to discounts in good time before this period esp if they've had low sales. 2. A trick I learned from trading. When bidding, I tend to go between whole numbers. I believe most buyers and developers would have a minimum or maximum. If another bids 200 and you bid 201, all things being equal, you're more likely to be accepted. Same also, a dev set not to go below 250 might accept 247 as it doesn't make sense to lose such a sale for 3k 3. Market and individual factors. Certain times (e.g last year) in the market are much better to undercut sellers . With rising rates + doom and gloom, most became desperate. Also, if a property has been fully built and unsold, the devs are itchy to sell as first too many empty houses doesn't look good to other prospective buyers and the devs also pay council tax on uninhabited properties. The caveat is that sometimes the built properties sitting unsold could be due to certain factors e.g garage, driveway e.t.c I'd give an example with my purchase. Was in the market last year. After looking around, settled for a 3 bed detached and later new build. Surveyed new builds in my area. Many were built in the usual monotonous and clumped up fashion but one stood out. It was by a local dev, smaller site, well built and spaced but came at a good price prenium. Property type I had in mind was on the market for £395k. I wanted certain other essentials e.g flat garden which wasn't north facing e.t.c. and narrowed down on 3. 1st quarter of last yr, all other devs reduced their prices but these folks didn't. The max I could go was 350 and I felt it was worth that (had been searching for over a yr). When I came, it was clear they weren't selling as much as a good number were almost build complete. They soon cut price down to 375k (+ 10k cash deposit contribution). Around same time, BOE raised rates by 0.5 (highest jump over the last hike period) and panic hit the market. I put a bid of 350k (plus contribution) . They declined offering either 370 with nothing else or 375 with a lower flooring package. Within a week of the reduction, 2 out of 3 houses I had my eye on had been snapped up. I thought of a 355 bid (my max was 360) but due to point 2, decided to make it 358 and requested they add a better flooring plan and garden turf. Made it sound like it was my final offer. It was accepted. It's worth nothing that after a while, they finally reduced the selling price of other 3 beds to 350k (without contribution i.e 360k) but that was for a few left with some 'issues' e g separate garage, next to HA/Council properties e.t.c. I would have paid the prenium to be in my current place even if I had known. |
profemebee:Big congrats... A major hurdle to cross |
Tomitomeroo:Did mine from the UK and submitted my bank statement. Didn't notarize. There's been some changes with upfront medicals. I waited for an invite |
Jorussia:When I travel, there is little in Abj or Lag that I'd not see much better of elsewhere hence they do not interest me. I want to experience culture, visit the village move and walk freely. Sadly it takes alot of calculations to visit, stay in and enjoy village festivities. Even if u wan rough am, it's even your family that'd be warning you against visiting giving good examples of what happened to others. We know how the KD-Abj road has had issues for a while. How do nothern folks fare- the on and off train or flying to non-existent airports. You mention Benin- I remember the last time I traversed the Benin-Lokoja road and ended up being robbed. I agree, the UK is broke. But there are not more than 5 large countries with more wealth per capita than the UK. What's more remarkable is the relatively more equitable way it's wealth is distributed among her citizens |
ReesheesuKnack:Knew this would happen. Deliberately did not put the usual caveat that limits whataboutism. The focus here is whether the underachievement of Africa is due to an innate genetic inferiority of the black man either as a person or as a group Macroeconomic drivers do not excuse local mismanagement and corruption. However, manytimes, the later is an end result of the former plus unwarranted International interference. Do you think the British empire achieved it's wealth and strength (at a time ruling almost half of the world) because they were less corrupt than others? |
Just stumbled upon the rumour that King Charles has pancreatic cancer. Hope its not true. But if true, I feel sad about it. My thoughts are with him. Cancer is a b**ch but pancreatic ca is a different beast. Due to the location of the pancreas its many times only diagnosed late and for same reason, if not caught very early it's mostly not ammenable to active treatment. The dying process is also terrible characterised by intractable pain. |
Stumbled upon this post elsewhere and thought to share here as I feel might benefit a few. With the student visa rules, it's quite clear that many masters students with families would have to return after 2 yrs except they source a qualifying job (less likely). For single folks, they'd likely be looking at seeking (or paying) for a care COS while making sure they remain single. Ultimately we need to seek the best and stability for ourselves. TomatoSauce1: |
TomatoSauce1:Big congrats... hope I can share your post elsewhere |
AmuDimpka:Afford and not wanting to or seeing the value in are different things. A trip to Nigeria costs me 1.5k pounds in ticket alone. Not considering money spent when I'm home and the endless number of people needing help. After a while, you just get tired of the whole system. For a family, it's even worse. Kids would standout due to their accent making them targets, you'd need to virtually make plans for every comfort and security your need. I'd spend far less for a holiday to some of the best destinations in the world and the experience would be much better. Many times, I ask myself why I still return. AmuDimpka:Why are they buying homes abroad? How many British business men resident in the UK have homes is Nigeria? |
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hustla:I saw your initial post and don't agree with it. You're conflating two things- which is using a snapshot in of human history to make a general statement about a race. We've seen dynasties and civilisations rise and fall and each power would have made same statement about others. Where were the Europeans when ancient Egyptians built the pyramids, mastared astronomy e.t.c. The Pharaohs would have called europeans eternal savages e.t.c The only difference today is the rise of the west coincided with a period of human tech and communication advancement that has brought us close together which makes brainwashing and neo-colonialism persist. Ask yourself, why does the average Nigerian chorus the statement that Chinese loans are bad while they worry not about the over 10x more we have taken from western agencies with nothing to show. Also, I have huge interest in policy and macroeconomics. Many of the drivers of trade today were put in place by the west and serves to perpetuate their feudalism by subverting others. How many nations were there when the decision was made to make the dollar the world reserve currency or the institute the IMF was made. Wouldn't the makeup and outcome of that conference be very different if it held today? The IMF exists to debase and devalue developing nations so western powers have access to cheap resources. How many non-western nations has interraction with the IMF brought longterm gains? Now, its moved from material to human resources. Today, due to those decisions, the US prints dollars out of thin air, while many African nations have to lend same paper money at rates of over 10%. Rates that even the everyday American wouldn't lend for. How can Djibouti afford to lend money at a higher rate than Germany? The UK forcefully enforced opium on the Chinese amlost reducing them to savages and oversaw the death of millions of Indians via famine so Britain's food reserves could remain full. The general economic slowdown in the west today is not unconnected to the rise of the Asians esp China. China has shown same can be done on a large scale within a generation. WHEN same occurs in Africa, certain things would give. |
VAPatrick:You hit the nail on the head. Even on this thread, folks who have seen both sides have continued to repeat same thing. They would choose those everyday jobs abroad over 'big man' jobs in Nigeria. It's pople who have never left or worked abroad that can't fathom this. They are seeing 1m naira as heaven on earth. If I begin to list, thread go full |
Usefulsense:My brother you don't need to convince folks. There are things experience teaches. Folks in Nigeria used to lording it over the many poor would struggle to understand the concept of dignity in labour. For example, in the UK, the salary of an MP (similar to a senator) is just about 4x that of a full-time minimum wage employee. For Nigeria to come close, that would mean our senators would be paid 120- 140k. Hehe.. Pay out there is largely due to what you bring to the table and if you provide a service others need. A plumber in the west would earn far higher that many folks with masters degree |
shoodboi2:What you said is the exact opposite of reality. Hehe... No insults, have you ever been abroad and seen how retirees live? Their group holds by far the most wealth. First, what is the average life expectancy in Nigeria? Virtually every honest civil service director I know lapsed into poverty soon after retirement. Many died wretched. What is the average pension and when was the last time pensions were increased? Do you know old people (with significantly more ailments) would need to use that pension to cover their health, pay kids uni fees e.t.c which are costs a pensioner abroad don't factor in. Now abroad, the state pays every pensioneer who has worked a state pension. This state pension rises every year with at least inflation. (Yes you heard that. To put in perspective, your average Nigerian pension would be increased by 30 % this year to rise with inflation). This is then in addition to the fat work pension which manytimes matched their final work salaries and has continued to rise. Reason why I said you have no idea what you are talking about. |
Treadway:You can't separate emergent, urgent and routine care- its manytimes a continum. There is a reason your presidents have spent months abroad on health grounds. Even with full access to the national chest and every local physician at their call, they still scurried abroad. The average general hospital in the UK is more equipped than all medical centres in many states of our nation. Secondly, what class of home based Nigerians do you think are buying houses abroad or sending their kids to school abroad? I recently met a high court judge who's who has been frantically looking to relocate his family. There is a reason for that. Look at the pyramid, why do you think health and safety are level 2? We've been through this before- point is there is a litany of safetynets and life necessities/enjoyments average westerners see than even the rich in Nigeria only dream of. No need listing them. When I've asked before, take away 'enjoyment' due to rampant poverty around, what else does a rich person in Nigeria enjoy? |
awesomeJ:As one economist described FPIs, they are like hawks seeking liquidity who would flee at the earliest sign of danger. We've been down this route before and it ultimately led to further devaluation of the naira. I remember folks here praising Emefiele for devaluing the naira to catch out FPIs withdrawing funds in 2019 ish. What happens after a year or two when these FPIs want to move elsewhere en-masse to catch the next shiny thing? Even foreign investments can manytimes be a fine line except when there is good regulation and buy-in Ultimately, the longterm solution to earn forex by means of economic output. Any other measure would at vest buy us time. |
Treadway:I see your point but certain things ring a bell. I have always said there are certain things that can't ve imported - health and security. I have worked in healthcare in both Nigeria and the UK and can say that for all the challenges the NHS faces, a begger in the UK arguably has access to better emergency care than many governors in Nigeria. For routine care it should be different. Many rich Nigerians are one serious ailment away from being bankrupt- something the average citizen in western nations would not pay a penny for. The serial pitiful death of our actors come to mind. The other is security. Many have been reduced to grass following a kidnap of themselves or close relative- this is not including deaths. Emotions apart, a cleaner in the west with settled status would have access to certain things that a bank manager in 9ja would struggle for. It's sad, but its the truth |
AmuDimpka:Its would be multiple times easier for him to travel the world on his current job than for someone earning 2 million monthly in Nigeria to do same. |
Gerrard59:Not always the case.. the world today is becoming more interconnected and most things bought are a function of one currency against others. |
AmuDimpka:Did you read his post? He said with what he knows today, if he was 52 and earning double he would still have gone. Stop, think through that before criticising. |
awesomeJ:Whats the source of this forex? |
Incognito9:True... I find it much easier being a bit detached from the market. Even recent altcoin buys I made were moved to a different wallet. I'd reevaluate them when certain conditions are met. Personally, I'm hoping bitc0in slows down a bit for a few weeks to months so the upcoming rally has a good base to extend and good support for the next bear. |
Incognito9:How are you playing this run? Looking to avoid all the emotional ups snd downs of the last. This time, I have sat in positions for months. Just looking to move bitc0in I bought low 20s |
Lastly.. Coins I'm monitoring closely and sometimes allocating to include INJ LDO OPM APT AVAX. Undecided would be BNB, SOL and MATIC The likes of UNI, LINK, XRP, BCH, ETC are relics I'm looking to offload with good timing |
Second, following from above is eth/betc. After months of indecision, it looks primed for a breakdown. This could come by reason of a bitc0in pump/dump or extreme volatility. On a breakdown, I'd be targeting close to the 0.4 level to sell-off my bitc0in into eth. At that point, holding eth makes more sense. Traditionally, after an eth move, smaller alts would go ballistic. Overall, the market is more matured now with different ways to make money in it. Being on the right side of certain macro moves are important. I'm sure those here who have seen a full cycle unfold would understand.
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Folks have asked... two macro turns I'm looking at.. First is the bitc0in dominance. i.e percentage of crypt0 market cap in botc0in. Simply put, alt season comes on when it starts selling off from a higher range i.e bitc0in money flowing into alts and pumping bags like in 2017 and 2021. Currently, it's primed for a good pushup (not good news). Many here dont hold bitc0in but the money that moves this marget goes in there first. Some alts have done exceptionally well but majority are still lagging. I'm waiting for this to get to 60% to reevaluate. 64% and above would be me going full degen mode into alts
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heroshark:I meant if Canadian Express entry is a pathway one is considering or undecided about, then a visit to Canada can be a good step in getting a direct feel plus also interact with professionals over there before deciding on a move. |
BouharryArtikou:Hehe.. leave landlords alone. You're paying for a service. |
lavida001:Not a party man but sounds like stuff to win votes. Without a feasible ppan to ensure more houses are built, most other interventions inadvertently drive up prices. |
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